TSMC to cut payment deadline: reportEXPANSION PLANS: The firm’s chair said massive capital spending is reducing its free cash flow, which in the first quarter declined 22.8% from a quarter earlierBy Lisa Wang / Staff reporterTaiwan Semiconductor Manufacturing Co (TSMC, 台積電) is reportedly planning to tighten customers’ payment terms next year to better manage its cash flow and fund its capital spending. Such huge capital spending is reducing the chipmaker’s free cash flow, Liu said. In the first quarter, TSMC saw its free cash flow fall 22.85 percent to NT$110.04 billion (US$3.7 billion), compared with NT$142.64 billion a quarter earlier, the firm said in a financial statement. TSMC also told customers that it planned to increase prices on new orders by 10 percent next year, the Liberty Times said. TSMC said in an e-mail to the Taipei Times that it does “not comment on such questions.”

Source: Taipei Times June 13, 2022 20:29 UTC